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QUEBEC, Nov. 1, 2023 (GLOBE NEWSWIRE) — Stelmine Canada (“Stelmine” or “The Company”) (TSXV: STH). A recent till geochemical survey carried out on the Courcy project (100% STH) confirmed several additional exploration targets. In total, 186 till samples (fine fraction) and 8 rock samples were collected. This geochemical survey targeted extensions of known gold mineralized zones.
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Highlights include:
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- Five anomalies defined by high values of gold and/or copper and arsenic were delineated (Figures 1 and 2).
- The main anomaly, in the Zone 3 sector, is located approximately 7.5 km SW of the discovery zone drilled by SOQUEM in 2006 and by Stelmine in 2021-2022.
- The anomalies are found in an area of 7.8 x 2.8 km
- Gold values of up to 272 ppb were obtained in the tills.
Stelmine drilling completed in winter 2022 2021-2022 in Zone 1 (Fig. 1), has abandoned 2.86 g/t Au over 10.0mincluding 5.28 g/t Au over 4.4 m. Three of Stelmine’s twelve drill holes in this area included intersections showing visible gold. Note that this is comparable to the 2006 discovery intersection (by SOQUEM) which also included visible gold.
Isabelle Proulx, president and general manager, declares: “Stelmine is very pleased to be able to disclose the presence of new exploration targets on the Courcy property, where exploration work is underway. The Company strongly believes that the results of this additional work will help define new high priority drilling targets.»
Fig. 1: General geology of the Courcy property illustrating the exploration targets defined by preliminary geochemical analyzes of rocks.
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Figure 2: Till geochemistry (fine fraction) of samples taken from the Courcy Property, including 2023 results. The gold concentration in ppb is indicated on an image of the IDW geochemical model combining gold (Au), arsenic (As) and copper (Cu).
To see the FIGURES and the LOCATION MAP, please Click here
Formation of glacial sediments
The till sampled at Courcy is a sediment formed thousands of years ago by glacial erosion. As a glacier advances, any exposed mineralization will be crushed, transported, and eventually deposited downstream as glacial sediments. Basal tills are a mixture of sediments generally transported over a limited distance and do not represent a point source. The till is therefore characteristic of a sampling area larger than a single outcrop, which therefore makes it possible to broaden the sampling grid. The presence of anomalies indicates a nearby upstream source; however, the absence of an anomaly does not allow us to conclude that there is no mineralized source, since it could be located at depth and therefore not exposed to glacial erosion.
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QA/QC protocol for crate samples
Stelmine implements a strict QA/QC protocol in the handling of till samples collected on the Mercator property. A clean metal shovel is used to excavate the upper layers of soil and sample the glacial till (C horizon) at a depth between 50 and 130 cm. Approximately 1 kg of till is collected, cleared of large stones (greater than sixteen millimeters) and organic matter, and placed in sealed and numbered single-use plastic bags with plastic ties. For each sample collected, the sample number, UTM coordinates. obtained with a portable GPS, and a brief description are systematically recorded on an electronic tablet by the geologist. The samples are then transported to base camp, dried for at least 48 hours, then put into larger rice bags and stored safely in a field tent before being sent by seaplane to the town of Wabush. Transportation to Actlabs Laboratories in Ancaster, Ontario is by truck using reliable shipping companies. Gold and other elements are analyzed by the INAA+ICP_OES methods (code 1H).
Qualified person
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The technical information contained in this press release has been reviewed and approved by Friedrich Speidel, PGeo, M.Sc. and Vice President, Exploration of the Company. Mr. Speidel is the qualified person responsible for the scientific and technical information contained herein under the standards of National Instrument 43-101.
About Stelmine Canada
Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context has similarities with the mine Éléonore, located very close to the contact of this metasedimentary basin. basin. Stelmine is the 100% owner of 1,784 claims or 917 km² in this part of northern Quebec, developed by the Courcy and Mercator projects.
Forward-looking statements
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events relating to results. To the extent that statements contained herein contain information that is not historical, such statements are primarily forward-looking and can often be identified by the use of words such as « considers », « anticipates », « expects » », “believes”. », “expects”, “projects”, “plans”, “potential”, “suggests” and “believes”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports as well as in the documents submitted to the securities administration available on the SEDAR+ site. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which speak only as of the date hereof. The Company disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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Caution
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, contact:
Isabelle Proulx, president and general manager Stelmine |
Investor Relations: |
Tel: 418-626-6333 | MarketSmart Communications Inc. |
info@stelmine.com | Adrian Sydenham |
Toll free: 1-877-261-4466 | |
info@marketsmart.ca |
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